Month: April 2013

Gujarat H.C : The Hon’ble ITAT has erred in law in confirming the order of CIT(A) in deleting disallowance of depreciation on an intangible assets developed by assessee called ‘AVTAR TM’

High Court Of Gujarat CIT vs. Net 4 Nuts Ltd. Section : 32 Akil Kureshi And Ms. Sonia Gokani, JJ. Tax Appeal Nos. 311, 313, 319 & 321 Of 2013 April  30, 2013 ORDER Akil Kureshi, J. – Since these appeals involve identical question, they are heard together and disposed of by this common order. 2. Before adverting …

Madhya Pradesh H.C : Making addition merely on basis of seized documents without cogent evidence that excess amount mentioned in seized document had actually passed on to assessee, was not sustainable where books of account of assessee-construction company were duly audited

High Court Of Madhya Pradesh CIT vs. Dolphin Builders (P.) Ltd. Section : 69, 44AD Krishn Kumar Lahoti, Actg. CJ. And M.A. Siddiqui, J. M.A.I.T. No. 13 Of 2002 April  30, 2013 ORDER M.A. Siddiqui, J. – The appellant has filed this appeal u/s 260-A of the Income Tax Act, 1961 being aggrieved from the order of appellate …

Delhi H.C : Where identity of share applicants had been established and their bank accounts, IT returns and balance sheet in addition to confirmation letters were produced, addition under section 68 was to be deleted

High Court Of Delhi CIT vs. Nipuan Auto (P.) Ltd. Assessment Year : 2006-07 Section : 68, 69 Badar Durrez Ahmed And Vibhu Bakhru, JJ. IT Appeal No. 225 Of 2013 April 30, 2013 JUDGMENT Badar Durrez Ahmed, J. – This appeal by the Revenue is directed against the order dt. 28th Dec., 2012 passed by …

Madras H.C : Where in writ petition challenging validity of reassessment proceedings, despite order passed by High Court maintaining status quo, Assessing Officer passed an order raising certain demand, order so passed could be challenged by assessee in appeal before Commissioner (Appeals) and not by filing another writ petition before High Court

High Court Of Madras Narmadha Chemicals (P.) Ltd. Vs. ACIT, Circle –I Assessment Year : 2007-08 Section : 260A, 32 Dhanapalan, J. W.P. No. 8839 Of 2013 April  29, 2013 ORDER 1. By consent of the learned counsel on either side, this Writ Petition is taken up for final disposal. 2. Heard Dr. Anitha Sumanth, learned counsel for …

Madhya Pradesh H.C : Interest which accrued on equity funds deployed with the Bank could be taxed as income from other sources and not as a capital receipt liable to be set off against pre operative expenses

High Court Of Madhya Pradesh Bharat Oman Refineries Ltd. vs. CIT-1 Assessment Year : 2008-09 Section : 56, 28(i) Krishn Kumar Lahoti, Actg. Cj. And M.A. Siddiqui, J. IT Appeal No. 238 Of 2012 April  29, 2013 ORDER 1. Shri G.N. Purohit, learned Sr. Advocate with Shri Abhishek Oswal, Counsel for appellant. 2. Shri Sanjay Lal, Counsel for respondent. …

Gujarat H.C : Where entire issue pertaining to disallowance of expenditure under section 14A was scrutinized by Assessing Officer during original assessment proceedings, reopening of assessment to make disallowance of such expenditure on basis of formula provided in rule 8D would amount to change of opinion

High Court Of Gujarat Reckitt Benckiser Healthcare India Ltd. vs. ACIT (Ocd), Circle -5 Assessment Year : 2007-08 Section : 147, 14a, 37(1) Akil Kureshi And Ms. Sonia Gokani, JJ. Special Civil Application No. 3049 Of 2013 April 29, 2013 ORDER Akil Kureshi, J. – Heard learned counsel for the parties for final disposal of the …

Gujarat H.C : Whether a Trust was in Existence is a Question of Fact

High Court Of Gujarat CIT Vs. Krupeshbhai N. Patel Assessment Year : 2006-07 Section : 2(22) Akil Kureshi And Ms. Sonia Gokani, Jj. Tax Appeal No. 936 Of 2012 April 29, 2013 ORDER 1. Revenue is in appeal against the judgment of the Income Tax Appellate Tribunal dated 29.06.2012 raising following questions for our-Consideration: “(A) Whether …

Andhra Pradesh H.C : An assessee in default under Section 201 (1) for not making TDS under Section 194B of the Income-tax Act in respect of the payments made as stake money to the horse owners.

High Court Of Andhra Pradesh Hyderabad Race Club vs. DCIT, Circle – 14(2) Assessment Years : 2007-08 To 2012-13 Section : 194B Ms. G. Rohini And P. Naveen Rao, JJ. Writ Petition Nos. 12817 To 12821 Of 2013 April 26, 2013 ORDER G. Rohini, J. – The petitioner in all these writ petitions is M/s. Hyderabad …
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